Government Programs

  • BC Partnership Program

    The BC Home Owner Mortgage and Equity Partnership (BC HOME Partnership) assists British Columbia residents who are eligible first-time homebuyers by providing repayable down payment assistance loans. The BC HOME Partnership Loan contributes to your personal down payment, up to a maximum of five per cent of the purchase price. You need to ensure that the amount of your personal down payment, plus the BC HOME Partnership loan, meet the minimum down payment requirement for an insured first mortgage loan. More Info

  • RRSP Home Buyers’ Plan (HBP)

    Qualifying homebuyers can withdraw up to $25,000 (couples can withdraw up to $50,000) from their RRSPs for a down payment. Homebuyers who have repaid their RRSP may be eligible to use the program a second time. More Info

  • Property Transfer Tax (PTT)

    Qualifying first-time buyers may be exempt from paying the PTT of 1% on the first $200,000 and 2% on the remainder of the purchase price of a home priced up to $500,000. There is a proportional exemption for homes priced up to $525,000. More Info

  • Property Transfer Tax Exemption for Newly Built Homes

    The Newly Built Home Exemption reduces or eliminates the amount of property transfer tax you pay when you purchase a newly built home in BC up to $750,000. More Info

  • BC Home Owner Grant

    As of 2017, if your property has an assessed or partitioned value of $1,600,000 or less, the home owner grant may reduce your taxes up to $570 or, if it’s located in a northern and rural area, up to $770. If you meet all requirements but your property’s assessed or partitioned value is over $1,600,000, you may qualify for the grant at a reduced amount. The grant is reduced by $5 for each $1,000 of assessed value over $1,600,000. This means the grant isn’t available for properties assessed over $1,714,000 ($1,754,000 in a northern and rural area). An additional grant reduces property tax further for seniors, veterans and the disabled. More Info

  • LiveSmart BC: Efficiency Incentive Program

    Homeowners improving the energy efficiency of their homes who hire a certified energy advisor may qualify for cash incentives through this provincial program provided in partnership with Terasen Gas, BC Hydro, and FortisBC. More Info

  • Fortis BC Rebate Program

    Rebates for homeowners include a $25 gift cards for furnace servicing; $50 rebates for upgrading a water heater; $150 rebate on an EnerChoice fireplace; $1,000 rebate for switching to natural gas and installing an ENERGY STAR heating system. More Info

  • GST Rebate on New Homes

    New home buyers can apply for a rebate of the federal portion of the HST (the 5% GST) if the purchase price is less than $350,000. The rebate is up to 36% of the GST to a maximum rebate of $6,300. There is a proportional GST rebate for new homes costing between $350,000 and $450,000. Visit the Link attached and enter “RC4028” in the search box or call 1.800.959.8287 or 1.800.959.8287 for more information . More Info

  • GST New Residential Rental Rebate (NRR Rebate)

    If a purchaser is planning to rent out the new home, they may be eligible for a GST New Residential Rental Rebate (GST NRR Rebate). Like the GST New Housing Rebate, the full GST NRR Rebate is only available on new homes priced up to $350,000. A partial GST NRR Rebate is available for homes priced between $350,000 and $450,000. The actual rebate calculations are identical to rebate calculations for teh GST New Housing Rebate. More Info

  • BC Property Tax Deferment Programs

    Property Tax Deferment Program for Seniors Qualifying home owners aged 55+ may be eligible to defer property taxes. Financial Hardship Property Tax Deferment Program Qualifying low-income home owners may be eligible to defer property taxes.
    Property Tax Deferment program for Families with Children Qualifying low income home owners who financially support children under age 18 may be eligible to defer property taxes. More Info

  • Canada Mortgage and Housing (CMHC) Residential Rehabilitation Assistance Program (RRAP) Grants

    This federal program provides financial aid to qualifying low income homeowners to repair substandard housing. Eligible repairs include heating, structural, electrical, plumbing and fire safety. Grants are available for seniors, persons with disabilities, owners of rental properties and for the creation of secondary and garden suites. More Info

  • CMHC Mortgage Loan Insurance Premium Refund

    Provides homebuyers with CMHC mortgage insurance, a 10% premium refund and possible extended amortization without surcharge when buyers purchase an energy efficient home or make energy savings renovations. More Info

  • BC Hydro Appliance Rebates

    Mail-in rebates or $25-$50 for purchasers of ENERGY STARTM clothes washers, refrigerators, dishwashers, or freezers between now and June 30, 2015, or when funding is exhausted. More Info

  • BC Hydro Fridge Buy-Back Program (different from Appliance rebates)

    This ongoing program rebates BC Hydro customers $30 to turn in spare fridges measuring 10-24 cubic feet in working condition. More Info